Stock-Based Compensation

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

Stock-Based Compensation

On July 7, 2005, the Company’s shareholders approved the LMI Aerospace, Inc. 2005 Long-term Incentive Plan (the “Plan”). The Plan provides for the grant of non-qualified stock options, incentive stock options, shares of restricted stock, restricted stock units, stock appreciation rights, performance awards and other share-based grants and cash bonus awards to employees and directors.  All share-based grants or awards are subject to a time-based vesting schedule.

A summary of the activity for non-vested restricted stock awards under the Plan is presented below:

Restricted Stock Awards	Shares		Weighted Average Grant Date Fair Value
Outstanding at January 1, 2015	296,782		$	16.58
Granted	81,867		14.31
Vested	(49,434	)	19.55
Forfeited	(3,401	)	14.00
Outstanding at March 31, 2015	325,814		$	15.59

Common stock compensation expense related to restricted stock awards granted under the Plan was $492 and $301 for the three months ended March 31, 2015 and 2014, respectively.

Total unrecognized compensation costs related to non-vested, share-based awards granted or awarded under the Plan were $2,596 and $2,036 at March 31, 2015 and December 31, 2014, respectively.  These costs are expected to be recognized over a weighted average period of 1.6 years and 1.2 years, at March 31, 2015 and December 31, 2014, respectively.